Amazon Stock
Amazon.com Stock to Inch Closer to $1000 in 2017
Amazon.com, Inc. (NASDAQ:AMZN) opened its virtual doors on the World Wide Web in July 1995 and has never looked back. Nobody could have imagined that an online book seller would be a such a force of disruption in the traditional retail industry. But Amazon today has become synonymous with the technology juggernaut that aims to crush anyone that comes in its path. Amazon stock is hovering around the $800.00 mark.
In 2016, Amazon shocked many by introducing “Amazon Go,” a new kind of grocery store that did not have a checkout line and aimed to provide the most advanced shopping experience. Top brick-and-mortar retailers are redesigning their digital strategies to compete with the e-commerce giant otherwise they face oblivion. And in the meantime, AMZN stock is scaling new heights.
“Amazon Prime Video” is another rising force that will be in the limelight throughout 2017. Video streaming giants like Netflix, Inc. (NASDAQ:NFLX) are spending more than ever to maintain their lead in the online streaming industry as competition heats up.
Amazon has also taken the search giant Alphabet Inc (NASDAQ:GOOGL) head on by introducing the market-leading player in voice-assisted devices, its “Amazon Echo” line of speakers. “Amazon Prime” is growing by leaps and bounds and is expected to maintain its growth in 2017 as well. This has been a major reason for the rise of Amazon stock in the year 2016.
Amazon.com, Inc. made clear in its last annual report that it wanted to be a large company that was also an invention machine. And the company does not appear to be deviating from that path. From its plans to enter Logistics and Original Content, to its “Amazon Alexa”-powered Echo devices and new store formats, Amazon.com, Inc. has its hands full in the new year. And it would be exciting to see AMZN stock reaching new highs in 2017.
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From: Michael Lombardi, MBA